President Trump is asked about the ongoing trade war with China and discusses a possible drop in tariff rates.
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NewsTranscript
00:00Mr. President, on China, your press secretary has suggested that some progress is being made.
00:07Are negotiations actively underway? And do you agree with Secretary Besant,
00:12who has suggested that the current standoff with China is not sustainable?
00:17We're doing fine with China. We're doing fine with every, I think, almost every country.
00:22Everybody wants to have involvement with the United States. As you know,
00:26we were losing $5 billion a day when, during the Biden administration,
00:33during that last year was a horror show, what they were doing on trade. $5 billion a day.
00:38And now we have it down to a very low number because we're getting 25 percent from the automobile industry, from autos.
00:44We're getting 25 percent for steel, 25 percent for aluminum, and we're getting the baseline of 10 percent.
00:52And think of it, we're losing almost $2 trillion on trade, and those days are gone.
00:59We're not going to do that again. We're not going to let that happen.
01:01We're being ripped off by almost, I don't say every, but very close to every country, everywhere in the world,
01:08just being ripped off left and right.
01:10You had no leadership. You had people that didn't know what they were doing.
01:14And we're going to turn the country around.
01:16And, you know, we have a very nice phrase, make America great again.
01:19That's what we're going to do. And it's going to start with trade.
01:22We're doing really well. I see the stock market was up nicely.
01:26But this is a transition period, and it's going to be a little while.
01:32But we are doing well with every country.
01:35Ultimately, we have something they want.
01:37And you have to view it that way.
01:39We have something they want, and they want very badly.
01:42And, you know, it's going to be – they're coming in, they're taking treasure,
01:46they're taking jobs when they do that, and they have to pay.
01:50And they don't have to pay if they come in and create their own jobs.
01:53You know, if they do their product here, if they build their product or make their product in the United States,
01:58we have absolutely no tariffs, and we welcome people.
02:01But we're taking in a lot of money from tariffs, and our country is getting stronger all the time
02:08because the other was not sustainable.
02:11But how many times have you started with China?
02:13Are you going to play a hardball with them?
02:15Are you going to mention COVID?
02:17Well, I'm not going to say – no, I'm not going to mention COVID.
02:20I'm not going to say, oh, I'm going to play a hardball with China.
02:22I'm going to play a hardball with you, President Xi.
02:25No, no.
02:26We're going to be very nice.
02:27They're going to be very nice.
02:28And we'll see what happens.
02:31But ultimately, they have to make a deal because otherwise they're not going to be able to deal in the United States.
02:37And we want them involved.
02:39But they have to, and other countries have to make a deal.
02:42And if they don't make a deal, we'll set the deal because we're the ones that set the deal, Scott and Howard and myself and others.
02:53We're going to be setting the deal, and it'll be a fair deal for everybody.
02:57And it'll be – I think it's a process that's going to go pretty quickly.
03:01We've spoken to many, many countries, and we're getting their views on things.
03:05You know, there are a lot of things.
03:06They have VAT taxes.
03:08They have everything you can have.
03:11Don't forget, as an example, the European Union was set up to take advantage of the United States.
03:17That's why it was set.
03:17And they've done that, but they're not doing that anymore.
03:21Yeah.
03:21Earlier today, Treasury Secretary Besson suggested that the current rates as high as they are now is effectively an embargo of trade between the United States and China.
03:30Do you see that?
03:31That's true.
03:31A hundred and forty-five percent is very high, and it won't be that high.
03:36It's not going to be that high.
03:36It got up to – we were talking about fentanyl, where, you know, various elements built it up to a hundred and forty-five.
03:45No, it won't be anywhere near that high.
03:47And what level do you think it'll come down to if you have it?
03:49It'll come down substantially, but it won't be zero.
03:53It used to be zero.
03:54We were just destroyed.
03:56China was taking us for a ride, and just not going to have – it's not going to happen.
04:02We're going to be very good to China, have a great relationship with President Xi, but they would make billions and billions and billions of dollars a year,
04:13and they would build their military out of the United States and what they made, so that won't happen.
04:18But they're going to do very well, and I think they're going to be happy, and I think we're going to live together very happily and ideally work together.
04:26So I think it's going to work out very well.
04:28But, no, it's at a hundred and forty-five percent.
04:30There will not be anywhere near that number.
04:32Mr. President, on the work that you're doing on the border, are you happy with the rate of deportations right now?
04:41Oh, it's amazing what they've done on the border.
04:43Thank you for the question, because, honestly, it's one of the great successes.
04:47We have virtually nobody coming in illegally.
04:50We do have people coming in legally, because we want people to come in, but we have nobody coming in through the border virtually.
04:56We were having hundreds of thousands of people a month come in under Biden, and they came in from prisons, they came in from mental institutions, they came in from gangs in Venezuela and other countries all over the world, not just South America.
05:12They were emptying their prisons into the United States.
05:15Venezuela emptied its prisons out, but many countries emptied their prisons into the Congo.
05:21Mexico, as an example, in Africa, emptied their prisons into the United States, and we're getting them out.
05:28And I hope we get cooperation from the courts, because, you know, we have thousands of people that are ready to go out.
05:35And you can't have a trial for all of these people.
05:39It wasn't meant, the system wasn't meant, and we don't think there's anything that says that, look, we are getting some very bad people, killers, murderers, drug dealers, really bad people.
05:51The mentally ill, the mentally insane, they emptied out insane asylums into our country.
05:57We're getting them out, and a judge can't say, no, you have to have a trial, the trial's going to take two years, and no, we're going to have a very dangerous country if we're not allowed to do what we're entitled to do.
06:12And I won an election based on the fact that we get them out, and we've done an amazing job.
06:17Look, we've stopped.
06:18Everybody admits, even the radical left, we have got the strongest border we've ever had.
06:24Even stronger than what I had for four years, we had a great border.
06:27We solved the problem.
06:29But it's actually, it's a tad stronger, which is, I don't know if that's disappointing or not to me.
06:35I beat my own record.
06:37But I appreciate the question.
06:39Yeah, please.
06:40Mr. President, you said you're ultimately going to make a deal with China.
06:43But where do things stand right now?
06:45Have you talked to him?
06:46I think my relationship, yeah, my relationship with the presidency is great.
06:50It was, it's been great for a long time.
06:54We've had a very good relationship, and I think we'll make a deal with China.
06:57If we don't make a deal, we'll set it.
07:00We'll just set the number, and, you know, I think they'll want to be a part of the United States.
07:04We're doing great.
07:05We're going to, this is the golden age, as Paul said.
07:08We're talking about the golden age.
07:09It will never be a time like this, in my opinion.
07:11And China wants to be a part of that, too.